Under the deal, Celgene will pay $232 per share in cash for Receptos, which is focused on developing therapeutic candidates for the treatment of immune and metabolic diseases.
The acquisition of Receptos builds upon Celgene’s growing expertise in inflammatory bowel disease (IBD). Subject to customary closing conditions, the transaction is expected to be completed by the end of this year.
The acquisition adds Ozanimod, a new, oral, once-daily, selective sphingosine 1-phosphate 1 and 5 receptor modulator (S1P) to Celgene’s pipeline of potential disease-altering medicines and investigational compounds.
In earlier clinical trials, Ozanimod showed several areas of potential advantage over existing oral therapies to treat ulcerative colitis (UC) and relapsing multiple sclerosis (RMS), including its cardiac, hepatotoxicity and lymphocyte recovery profile.
The Phase III True North trial for the drug is currently underway with results expected to be reported in 2018, while the Phase III Radiance and Sunbeam RMS trials are ongoing with data expected in the first half of 2017 to support a RMS approval in 2018.
Celgene chairman and CEO Bob Hugin said: "The Receptos acquisition provides a transformational opportunity for Celgene to impact multiple therapeutic areas.
"This acquisition enhances our I&I portfolio and allows us to leverage the investments made in our global organization to accelerate our growth in the medium and long-term."
Receptos also develops RPC4046, an anti-interleukin-13 (IL-13) antibody for (EoE), an allergic/immune-mediated orphan disease, as well as other pipeline and pre-clinical stage compounds.